Corn futures are higher at midsession. Support is being generated from strong weekly export sales and a rally in outside markets. Export sales of 55 million bushels were above trade expectations. March is 2 cents higher at $2.25 and May is 2 1/4 cents higher at $2.36.



Soybean futures are trading higher at midday. The market is rebounding from recent losses on spillover support from surging gold and crude oil markets. However, gains are being limited by improved weather conditions in Argentina and concern that bird flu problems will curb meal demand. March is 3 1/4 cents higher at $5.75 and May is 3 1/4 cents higher at $5.88.



Wheat futures are narrowly mixed at midday. The market was slightly higher early on spillover support from other markets and continued dry forecasts for the Plains. However, some selling pressure developed from Egypt shutting out the U.S. in a recent export tender. CBOT Mar is unchanged at $3.66 1/4, KCBT Mar is 1/2 of a cent lower at $4.33 1/2 and MGE Mar is 1 cent higher at $4.16 3/4.



Cattle futures are trading lower at midday. Traders are gearing up for the Cattle on Feed report that is expected to show large placements and on feed numbers. Losses are being limited by ideas that cash trade will develop in the South at around $90 compared to $89 trade a week ago. April is 20 cents lower at $87.28 and June is 43 cents lower at $82.30.



Lean hog futures are lower at midsession. The losses are being attributed to some weaker cash bids today and continued bearish reaction to the large stocks of pork reported in the Cold Storage report. Packer margins remain poor even though pork cutouts have been moving higher. April is 40 cents lower at $61.55 and June is 55 cents lower at $69.75.